The fall in property values continued to worsen in August, according to CB Richard Ellis.
The agent’s monthly index reported a -2.1% fall in capital values for the month, compared with -1.9% fall in July.
All-property rental growth was stable for the month, remaining at -0.1%.
CBRE said that the all-property total return for August was -1.6%, slightly worse than the -1.4% return seen in July.
Capital values fell across most sub-sectors, with the worst falls seen in shopping centres, where capital value growth fell from -1.6% to -2.6%. It continued the indices’ trend of a “double-dip” in property values that started in May.
However, the previous CBRE index was not entirely consistent with the last IPD monthly index, which said that the falls in property values actually eased off slightly in July.
According to CBRE, commercial property capital values have lost 11.2% this year, and 21.5% on an annualised basis.
